Liam Dann: And now, the Oscar for biotech

The team at AgResearch and Direct Capital have pulled off a Peter Jackson-sized coup for this country.

Raising $150 million to fund exciting new agricultural science projects is a wonderful effort in itself.

But what makes the BioPacificVentures fund so important is that it has attracted international biotech heavyweights to New Zealand for the first time.

For years, we've been telling ourselves we lead the world in agricultural science.

We've had plenty of proof of our success in the production gains made by dairy and meat farmers.

We've developed world-class apple varieties and bred the kiwifruit into one of the most popular fruits on the planet.

But we have struggled to sell our story to international investors.

New biotech companies have struggled to survive.

Now, like our film makers and special-effects wizards, our scientific companies are going to get the chance to shine on the global stage.

It's impossible to put a price on the buzz this fund could generate.

The Swiss-based venture capital company Inventages is young and dynamic with a good reputation around the world.

They are also hard-nosed about making money in a tough industry.

By staking their claim here, they have put us on the map.

Suddenly, biotech fund managers in Asia and the US will be asking what is so interesting that has attracted a bunch of Swiss guys down here.

Let's hope they've started an investment rush.